New Street Research - Liberty Global plc LiLAC (LILAB) New Street: LILAC (Buy, TP: $18, +38%) Liberty LA Q2s - PR and CWC drive EBITDA beat, no real signs of improvement in Chile

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New Street Research

Soomit Datta

New Street: LILAC (Buy, TP: $18, +38%) Liberty LA Q2s - PR and CWC drive EBITDA beat, no real signs of improvement in Chile

Liberty LA reported solid Q2s last night, with EBITDA coming in 4% ahead of us due to 1/ Lower AT&T wireless integration costs (with net savings here), 2/ Stronger underlying profitability in this asset, and 3/ Better margins at CWC on the back of a strong "post pandemic" comparable.

05/08/2021 7 EN

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Liberty Global plc LiLAC

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Soomit Datta

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New Street: LILAC (Buy, TP: $18, +38%) Liberty LA Q2s - PR and CWC drive EBITDA beat, no real signs of improvement in Chile

Liberty LA (Buy, TP: $13, +60%) Q1 24 - Tough optics in Q1, but PR EBTDA reiterated and turbo-charged buy back

Liberty LA (Buy, TP: $13, +110%) Liberty LA - T-Mobile FWA in Puerto Rico: clarification on pricing

LILA US (Buy, TP: $13, +102%) Call with CFO Chris Noyes / T-Mobile FWA in Puerto Rico

Bible 1Q24 – Foundries: leading-edge strong; Trailing-edge correction playing out.

VEON (Buy, TP: $40, +55%) Thoughts after the call

Reddit (RDDT, Neutral, $54 target) Data licensing tracking our base case after OpenAI deal

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